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Oil slips to $78 as OPEC+ gears up for potential ramp up in output

(Reuters) - Oil fell to around $78 a barrel on Friday on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high reached...

Guyana oil fields will produce around 1.4 million bpd in the medium term, says Norway group

Oil major ExxonMobil has so far sanctioned development of about 560,000 bpd of oil production capacity off the coast of Guyana. The commissioned capacity is expected to grow to more than 900,000 bpd in the next five years then...

Countries could make up to $82 billion a year by utilising gas instead of flaring it – GlobalData

Gas flaring – the combustion of unwanted natural gas produced during oil recovery – is causing many oil-producing countries to lose up to $82 billion a year, priced at record spot prices in Europe in August 2021, according to...

Stabroek Block co-venturer CNOOC makes large oil discovery offshore China

CNOOC Limited, a 25% stakeholder in Guyana’s Stabroek Block, announced on Thursday that it has made a large-sized oil discovery at the Kenli 10-2 oilfield located in Laizhou Bay Sag in Southern Bohai Bay at an average water depth...

EITI reports growing commitment to beneficial ownership transparency

The Extractive Industries Transparency Initiative (EITI) has observed a growing global commitment towards beneficial ownership transparency. The international watchdog said earlier this month that over 110 countries have now committed to the publication of beneficial ownership information for companies across...

Disappointment at Suriname’s Block 58 as Keskesi fails to deliver commercial oil

APA Corporation announced on Wednesday the results from appraisal drilling at Keskesi South-1 on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies, the operator, holding a 50% working interest. Keskesi South-1, drilled...

Upcoming oil conference will strengthen Guyana’s recognition as emerging oil & gas leader – Bharrat

Guyana’s Ministry of Natural Resources said on Wednesday it welcomes the International Energy Conference and Expo and is pleased to be associated with the event slated for February 15 -18, 2022, at the Arthur Chung Conference Centre, on the...

Exxon says understanding of marine environment offshore Guyana has increased substantially over the years

Environmental data have been collected offshore Guyana and studied since 2014 and reports have been compiled describing the physical, chemical, and biological properties of sediment and the water column to document baseline conditions, particularly in the Stabroek Block. These...

Brent drops as oil rally falters

(Reuters) Oil prices fell on Wednesday after U.S. crude inventories unexpectedly rose and amid concerns about a slowing Chinese economy. Brent crude was down 46 cents, or 0.6 %, at $78.63 a barrel by 0950 GMT. On Tuesday, it fell...

Experts say oil and gas crucial to energy transition

With increasing temperatures, rising sea levels, and more aggressive effects of climate change occurring, it is obvious that every country must do its part to achieve the goals of the Paris Agreement of net-zero carbon emissions by 2050. A...

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Celebrating women’s leadership: The journey of the 25 Influential Women Leaders Awards

Lyndell Danzie-Black and Michelle Nicholas, two professionals forging connections at a conference, discovered a shared passion for celebrating women's...